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BMW profit of $2.7B is down as automaker invests to keep luxury lead

Despite selling 6.6-percent more vehicles - a record by volume - and posting higher revenues in the second quarter of 2013, BMW Group's profit of 2.07 million euros ($2.75 billion) is down 8.8 percent from last year. Investments in new technology (e.g. the new i3) and personnel, in addition to a competitive market, are to blame, BMW states. But the automaker remains committed to its fiscal targets for 2013, which, Chairman of the Board of Management of BMW AG, Norbert Reithofer, says will be "on a similar scale to 2012."
The BMW brand's sales performance in the first half of the year, which increased by 7.7 percent to 804,258 vehicles delivered, was good enough for it to maintain its lead in the luxury market, narrowly beating Audi, which delivered 780,510 vehicles, Automotive News reports. Mercedes-Benz delivered 694,433 vehicles to cement third place.

Spectre Type 10 is a 230-hp, $180,000 mid-engined Mini restomod

Restomodded classic Minis are nothing new, right? A number of reworks swap the original 1.3-liter engine, Honda's VTEC K20 four-cylinder being such a popular replacement that Mini Mania makes a complete swap kit, but the 1.0-liter Ford EcoBoost gets love, too. Some mods replace the engine and move it behind the front seats, a popular option when using the four-cylinder from a Suzuki Hayabusa motorcycle. Some restomods don't do any of that, but just overhaul everything and charge a lot for it, like the David Brown Automotive Mini Remastered that costs around $100,000. As caught by Carscoops, Spectre Vehicle Design out of Vancouver, Canada has done all of the above with its Type 10 Mini restomod, raising the bar for conversions into another dimension. There will only be ten of the Launch Edition Type 10s, and about the only original part left from an original donor hatchback will be the bodyshell. These will be sourced in the same state as the buyer's residence in order to ease the process of vehicle registration. Into that bodyshell, the small Canadian team of enthusiasts has placed a Honda K20 mill with a Haltec engine management system behind the front seats. Shifted through a six-speed gearbox, we're told VTEC kicks in with 230 horsepower at the rear wheels, shunted through a limited-slip differential. In a vehicle reported to weigh 1,700 pounds wet, we're talking serious shove. Committed to keeping the Mini's ten-inch wheels, Spectre designed a new trailing arm suspension to make the package work. Those wheels are three-piece, six-inch-wide, CNC'd aluminum units with staggered offsets and directional spokes to usher hot air away from the four-piston disc brakes.  The cabin looks like a Japanese-infused Mid-Century modern living room, given a touch of carbon fiber and Monica Bellucci. Creative Director Marco Lii patterned the seating aesthetic off a genkan, the foyer area in a Japanese home where one removes ones shoes. The genkan floor is often recessed in relation to a home's main floor, and so it is here in the Type 10. There's a tatami-like mat on the cabin floor, the two interior seats placed on a dais a level above that. The copious light wood and leather interior with chrome accents is understated and gorgeous, everything so well integrated that it takes a moment to recognize the full-cabin roll cage wrapped in stitched leather. The padded center armrest on thin chromed legs looks like a piece in a high-end furniture store.

Mini Art Beat is a loud, driving social media billboard

Video billboards are nothing new, but a video on a moving car that's blaring music? Now that's something that will catch your attention - especially if you're driving alongside it in the streets of London.
That's the exact intent of Mini's new Art Beat, a Cooper Countryman turned marketing device that is custom-fitted with a staggering 48,000 LEDs. On its nightly drives through the city, the compact crossover showcases brightly colored videos, graphics and animations contributed by people around the world via social media. The Mini Space Blog describes the Art Beat as the "most vibrant and customizable NOT NORMAL ride you'll ever lay eyes on."